With N.J. budget deadline near, will Dems make good on vow for historic tax relief?

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New Jersey lawmakers are in the process of putting together a state budget for the new fiscal year that begins July 1, and the decisions they make over the next three weeks could have fiscal ramifications that stretch well beyond next year. The Garden State is experiencing a surge in tax revenue unlike any in modern history, with collections coming in more than $13 billion higher than the pre-pandemic peak in 2019. State Treasury officials told lawmakers in May that the state will likely collect a staggering $51.4 billion by the end of June. But the New Jersey taxpayers fueling that surge in r…

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